Categories: world

Deutsche Bank feared the Trump Organization would default on $ 340M while Trump was in the office

Deutsche Bank executives were very concerned that the Trump organization could default on $ 340 million in loans after Donald Trump won the 2016 election. Bankers discussed extending the repayment dates beyond a possible second term to avoid having to go for a president's assets. Head of the German bank, the only major financial institution that was willing to do business with Trump Following a string of bankruptcies, the extension of the repayment dates on Trump's loans until 2025 discussed his potential second term ceased, Bloomberg reported . The Trump organization owes Deutsche Bank $ 1 25 million it spent on Trump National Doral Miami Resort 2023, along with more than $ 200 million in loans it spent on two buildings in Washington and Chicago in 2024. According to the report Deutsche Bank's senior executives, including CEO John Cryan, were worried about the setbacks they could face if the bank tried to pursue a seat president's assets if the Trump organization were to default on the loans. Instead, the bank decided on the restructuring of the loans and chose not to do any business with the company while Trump is in place. The New York Times reported earlier that Deutsche Bank rejected a loan request from Trump Organization to help finance work on its Scottish golf course during the 2016 campaign, at least partially worried that Trump could win the election. Trump Organization denied seeking the loan and Bloomberg report. [19659002] "This story is complete nonsense," Eric Trump told Bloomberg.…

Deutsche Bank executives were very concerned that the Trump organization could default on $ 340 million in loans after Donald Trump won the 2016 election. Bankers discussed extending the repayment dates beyond a possible second term to avoid having to go for a president’s assets.

Head of the German bank, the only major financial institution that was willing to do business with Trump Following a string of bankruptcies, the extension of the repayment dates on Trump’s loans until 2025 discussed his potential second term ceased, Bloomberg reported .

The Trump organization owes Deutsche Bank $ 1

25 million it spent on Trump National Doral Miami Resort 2023, along with more than $ 200 million in loans it spent on two buildings in Washington and Chicago in 2024.

According to the report Deutsche Bank’s senior executives, including CEO John Cryan, were worried about the setbacks they could face if the bank tried to pursue a seat president’s assets if the Trump organization were to default on the loans. Instead, the bank decided on the restructuring of the loans and chose not to do any business with the company while Trump is in place.

The New York Times reported earlier that Deutsche Bank rejected a loan request from Trump Organization to help finance work on its Scottish golf course during the 2016 campaign, at least partially worried that Trump could win the election.

Trump Organization denied seeking the loan and Bloomberg report. [19659002] “This story is complete nonsense,” Eric Trump told Bloomberg. “We are one of the most subcontracted real estate companies in the country. Almost all of our assets are owned and managed freely, and the few who have loans are a small part in relation to the value of the asset. These are traditional loans, not different than any other property developer would carry as part of a comparable portfolio. “

Deutsche Bank has a long and complicated history with Trump. It was the only bank that was willing to lend money in the 1990s after Times reported that he had been “all but excommunicated from Wall Street” after a series of bankruptcies. While other banks refused to lend money, Deutsche Bank gave Trump the opportunity to borrow more than $ 2.5 billion over 17 years.

Trump stopped repaying a loan during the financial crisis in 2008 and sued the bank and accused it of helping to cause the crisis. The bank sent bands with Trump but later borrowed money from him again in 2010 and 2012.

The bank, whose head office in Frankfurt was battled last year as part of Panama Paper’s investigation, has come under scrutiny by investigators.

Trump exploded in anger over inaccurate reports in December 2017 as Specialist Robert Mueller had raised information about his Deutsche Bank business dealings and demanded that the Mueller investigation be shut down. The New York Times reported. He fired after reading the first news reports were incorrect.

But House Democrats say they are planning to cross Trump’s self-declared “red line” and dig deep into his economy now that they have control over the investigative committees.

“If the specialist adviser has not been sentenced to Deutsche Bank, he cannot do much of a money laundering investigation,” said House Scheven President Adam Schiff to NBC News earlier this month. “So that’s what concerns me – that the red line has been enforced, either by the lawyer’s party or by any other party to the justice department. But it leaves the country exposed.”

Schiff announced that his committee will launch a joint investigation with Rep Maxine Water’s Financial Services Committee in Trump’s Deutsche Bank business.

“We know that Deutsche Bank is one of the largest money laundering banks in the country or perhaps in the world” Waters told CNBC. “And we know this is the only bank that will lend money to the US president because of his past experience. He will not show his return and we have some information that makes us believe it can have been no money laundering. “

Share
Published by
Faela